Form secured contract for sale of used car installment payments

This bill of sale is between (the "Buyer"), of , , , and (the "Seller"), , , , .

The parties agree as follows:

1. SALE OF VEHICLE.

The Seller hereby sells to the Buyer and the Buyer purchases from the Seller, the following motor vehicle (the "Vehicle"):

2. PURCHASE PRICE.

The total purchase price to be paid by the Buyer to the Seller for the Vehicle is $ (the "Purchase Price"), which will consist of the following components:

• (a) a down payment of $ , which must be delivered to the Seller on or before the effective date of this bill of sale, as defined in section 9 10 ;
• (b) an additional payment of $ , due on the Delivery Date (as defined in section 6 7 below); and
• (c) a balance of $ , which will be financed by the Seller under a promissory note dated (the "Note").

3. SELLER'S REPRESENTATIONS.

The Seller represents to the Buyer that:

• (a) the Seller has good and marketable title to the Vehicle, with full authority to enter into the transactions contemplated by this bill of sale and to sell the Vehicle in accordance with this bill of sale;
• (b) the Vehicle is free of all encumbrances, liabilities, and adverse claims . , except held by , and held by , and held by , and held by , and held by .
• (c) the Seller will fully indemnify the Buyer from any lawful adverse claim to the Vehicle . except for any claim of or or or or named in (b) above; and
• (d) to the best of the Seller's knowledge, the information disclosed in this bill of sale about the Vehicle and its title are correct in all material respects.

4. BUYER'S REPRESENTATIONS.

The individual signing this agreement on behalf of the Buyer represents to the Seller that he or she has the power and authority to complete this transaction on behalf of the Buyer.

4 5 . NO OTHER REPRESENTATIONS.

Except for the representations provided in section 3, the Buyer acknowledges that the Vehicle is being sold "as is," without warranty, whether express or implied, about the condition of the Vehicle. The Buyer must satisfy itself as to what is offered for sale, and by purchasing will be held to have satisfied itself that the Vehicle is satisfactory in all respects. Any defects and all repairs are the sole responsibility of the Buyer. The Seller neither assumes, nor authorizes any other person or entity to assume on its behalf, any liability in connection with the sale of the Vehicle. The Seller's disclaimers of warranty do not affect the terms or applicability of any warranty from the Vehicle's manufacturer that may be applicable to the Vehicle.

5 6 . INSPECTION.

The Vehicle has not been inspected by an independent and licensed mechanic within the last month. A copy of that inspection report is attached to this bill of sale.

To the best of its knowledge, the Seller believes that the Vehicle is being sold in good operating condition , except for the following defects: .

6 7 . DELIVERY OF VEHICLE.

The Seller shall deliver the Vehicle, and the Buyer shall take possession of the Vehicle, at the Seller's address as listed above, on or before (the "Delivery Date"). The Seller shall ensure that the Vehicle is delivered in the same condition as the Buyer's last inspection (or, if no inspection was conducted, as of the effective date of this bill of sale). The Buyer, either itself or through a third party, shall appear at the Seller's address during standard business hours on the Delivery Date to remove the Vehicle. If the Buyer does not appear at the Seller's address on the Delivery Date to remove the Vehicle, the risk of loss of the Vehicle passes to the Buyer.

7 8 . CONVEYANCE OF TITLE.

The Seller shall convey title to the Vehicle to the Buyer when that Vehicle is delivered to the Buyer. The Seller shall execute all documents presented by the Buyer that are necessary to finalize transfer of title and registration of the Vehicle to the Buyer.

8 9 . CANCELLATION OF INSURANCE AND TAGS.

Unless prohibited by applicable law, the Seller hereby acknowledges that it will cancel any insurance coverage, license, tags, plates, or registration maintained by the Seller on the Vehicle when the Vehicle is delivered and accepted by the Buyer.

9 10 . EFFECTIVENESS.

This bill of sale will become effective when all parties have signed it. The date this bill of sale is signed by the last party to sign it (as indicated by the date associated with that party's signature) will be deemed the date of this bill of sale.

10 11 . ADDITIONAL TERMS OF SALE.

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Each party is signing this bill of sale on the date stated opposite that party's signature.